Register Now For a 14-Day Free Trial to Search and
Track Corporate Dollar Bonds
(no card details are required)
SocGen, Credit Agricole Report Earnings
Societe Generale (SocGen) reported an underlying group net income of €1.6bn ($1.7mn) on revenues of €7.3bn ($7.7bn), up 16.6% YoY. It said that all businesses witnessed "good momentum". Its French Retail Banking revenues were up 6.4% YoY, International Retail Banking...
UniCredit Reports Fall in Q1 Earnings
Italy's UniCredit reported a 70% YoY decline in net income to €247mn ($260.2mn) due to higher-than-expected Russia related provisions at €1.23bn ($1.3bn) in Q1. Total revenues were at €5.2bn ($5.5bn), up 7.3% YoY, driven by higher fees and net interest income. The...
April 2022: 88% of Dollar Bonds Sell-off; IG Underperforms as Treasury Yields Saw a Sharp Rise
Dollar bonds in our universe dropped again in April, with 88% of bonds in the red. Investment grade (IG) bonds – more sensitive to interest rate changes compared to high yield (HY) bonds, all else equal – were the most impacted. 95% of investment grade dollar bonds...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets jumped with the S&P and Nasdaq up 3% and 3.2% respectively. All sectors were in the green, led by Energy, up 4%, Communication Services and IT, up over 3.5% each. The move comes after a pick-up late in the day post the Fed meeting where they...
FOMC Hikes by 50bp; Balance Sheet Roll-off to Begin in June
The Federal Reserve hiked its policy rate by 50bp, as expected by market participants, bringing the fed funds target range to 0.75%-1%. This was its largest single rate hike in over two decades. The move comes on the back of inflation hitting 40Y highs, at 8.5% YoY in...
HSBC, Ping An to Discuss Strategic Breakup Proposal of Asia Business
HSBC and Ping An executives plan to meet in mid-May to discuss the latter's proposal that HSBC should explore strategic options such as a spin-off of its Asian business, as per a source. Business Times notes that Ping An is the biggest shareholder in HSBC with an...
Country Garden Buys Back $10mn in Bonds Again
Country Garden (COGARD) bought back another $10mn of its 4.75% bonds due July 2022 and 4.75% bonds due January 2023. From March 14 to May 2, the developer had bought back $9mn of the 2022s and $1mn of the 2023s. Overall in 2022, Country Garden has now bought back...
SBI Plans to Raise $2bn via Offshore Bonds
India’s state-owned lender State Bank Of India (SBI) plans to raise $2bn by issuing long-term offshore bonds in the current financial year 2022-23. The bond issuance could be under a single deal or multiple tranches through a public offer or private placement of...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets inched higher with the S&P up 0.5% and Nasdaq up 0.2%. Most sectors were in the green, led by Energy, up 2.9%. US 10Y Treasury yields were 1bp lower at 2.98%, after having crossed the 3% mark for the first time since December 2018. European...
